Course of the week: Pensions for Payroll, Automatic Enrolment and Salary Sacrifice

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Course of the week: Pensions for Payroll, Automatic Enrolment and Salary Sacrifice

07 January 2014

This illuminating course explains the legal and payroll related implications of the planning and introduction of automatic enrolment for pensions and salary sacrifice arrangements. It examines, with examples, why an arrangement may or may not be effective or successful.

Anyone responsible for, or connected with, pensions within their organisation and anyone in the HR, finance or payroll environment that requires an understanding of pension schemes, the statutory requirements surrounding automatic enrolment and the benefits of considering salary sacrifice to reduce the employer costs of automatic enrolment.The day will end with an interactive and fun automatic enrolment quiz designed to consolidate your knowledge and understanding of the legislation in different situations.

What will I learn?

This course covers the subject of every aspect of pensions in payroll and will assist you in preparing your organisation for the challenges ahead. The role and duties of employers and the various statutory bodies including IRSPSS, DWP and FSA are explained. The focus is on the implications for employers and employees with particular emphasis on payroll processing and procedures.

Course content

How tax relief is obtained on different types of pension schemes (pre and post tax)

NI implications of contracting-out, including minimum payments and age-related rebates

Significance of “tax approval” and its effect of tax relief

Earning and remuneration for pensions and the earnings cap

Review of all certificates needed for contracting out and tax approval

The significance of the upper accrual point and its effect on the NI calculation